explain what the Gini Index is and explain what it means if a country’s Lorenz curve...

explain what the Gini Index is and explain what it means if a country’s Lorenz curve is very convex.

Expert Solution

Rahul Sunny answered 1 year ago

Draw the Lorenz curve and explain what the gini coefficient and robinhood index are. Explain differences...

Draw the Lorenz curve and explain what the gini coefficient and robinhood index are. Explain differences between the two, and how it is an effective index. Thoroughly explain each index. Also discuss the Lorenz curve and its relation to the gini cofficient index and the robinhood index.

Q1 What is Gini coefficient? Explain how Gini coefficient is derived from the Lorenz curve?

give an intuitive explanation of how the Gini coefficient and Lorenz curve is measured and what...

give an intuitive explanation of how the Gini coefficient and Lorenz curve is measured and what we can learn about income inequality from it. (For example: What do the larger and smaller values of this measure mean? Which parts of the income distribution do this measure use?)

Explain what these statistics are: Gini index, Quintile analysis, and Pareto Criterion.

The COVID-19 crisis will certainly cause a fall of global trade. Explain what the Gini Index...

The COVID-19 crisis will certainly cause a fall of global trade. Explain what the Gini Index is and explain how do you expect the Gini Index to evolve in 2 of the BRICS countries during the next 3 years. Present specific data to support your argument.

If two Lorenz curves cross each other explain why some other measure (besides Gini) might rank...

If two Lorenz curves cross each other explain why some other measure (besides Gini) might rank inequality differently from Gini ranking. Why does a crossing of the Lorenz curve cause this ambiguity? (Hint: “ think outside the box”)

A Lorenz curve graphic shows What the income distribution should be for maximum economic benefit what...

A Lorenz curve graphic shows What the income distribution should be for maximum economic benefit what perfect inequality of the income distribution looks like compared to perfect equality of the income distribution. what equal and unequal distribution of income will look like in the future. what perfect equality of the income distribution looks like compared to the actual income distribution.

calculate the Gini Index of the following income distribution of 10 people: 10,10,10,10,10,10,10,10,50,100

What is a Lorenz curve? don’t draw , please describe the picture inwords! labeling the axes.

The closer the income Lorenz curve is to the line of equality, A) the more equal...

The closer the income Lorenz curve is to the line of equality, A) the more equal is the income distribution. B) the less equal is the income distribution. C) the more unfair is the income distribution. Most people will not pay privately for police services because the A) marginal social benefits are less than the marginal social cost. B) marginal private benefits are greater than the marginal social cost. C) marginal private benefits are less than the marginal private cost....

Question